Buffets, Bloating, And Getting More Sponsorship

I don't know what it is about the past year, or even this year for that matter, but it seems a LOT of people I know have been, or are heading to Fiji for a holiday.

I managed to sneak in a 7 night trip there myself last year.

A bunch of high school buddies, accompanied by partners and families went and stayed at an all-inclusive resort on Mana Island for our combined 40th birthday celebrations. ?

We had a blast. Lots of sun, snorkeling, exploring, crab racing and lounging by the pool.?

Being all-inclusive meant that we had buffet breakfast, lunch and dinner included in our package.

This was definitely a bonus for the wallet as it meant we didn’t have to spend anything on food while we were staying there.

But it also meant that without self-discipline or control, we ended up overeating A LOT. Often, we were left feeling bloated and wishing we hadn’t eaten so much.

There was always too much food to choose from, it was tough to remain focused, or figure out what we wanted.

1st world problems, right?

But, bare with me for a minute, it’s a real thing. Let me explain.

Often, too many choices can be overwhelming and can lead to indecision, or poor decisions.

It’s called the paradox of choice.

The paradox of choice is a concept introduced by psychologist Barry Schwartz which suggests that the more options we have, the less satisfied we feel with our decision.

This phenomenon occurs because having too many choices requires more cognitive effort, leading to decision fatigue and increased regret over the choices we make.

?You may have also heard of the term analysis paralysis? It's kind of similar.

Analysis paralysis is when you're faced with too many variables and you start overthinking it, endlessly researching and not taking action, due to indecision.

This is also a big mistake many sponsorship makers tend to repeat.

Are you guilty of providing too much choice in your sponsorship pitches?

Do you try to list every single benefit you can possibly think of, and then dump it in your proposals, hoping to impress your potential sponsors?

From tickets, to logo placement, to the ability to activate, to inclusion in eDMs, to social media posts and everything in between.

There’s a good chance that you’re causing the paradox of choice.

It requires too much cognitive effort to try and figure out how to use your sponsorship.

And if people do sign on as a sponsor, they’re likely going to feel less satisfied with their decision, which means they’re less likely to spend time and money on leveraging their sponsorship.

They’re also less likely to stick around for the long run.

It's an easy trap to fall into, especially if you're not confident in the value you're selling. You're nervous that you might miss the mark if you don't list all the benefits you could potentially offer.

But, don't do it.

If you follow my posts, you’ll know that the method we teach suggests you should put forward fewer, but highly-targeted, options to potential sponsors.

Options that will meet the sponsor’s needs. ?

That means you need to do a bit of research beforehand, but trust me, the payoff is worth it.

It results in quicker decisions, higher sponsorship fees and longer terms.

It also means the sponsors are really excited about their sponsorship, rather than being overwhelmed or fatigued.

When the number of choices increases, so does the difficulty of knowing what the best decision is. This is what leads to indecision or a lack of interest. There’s simply too much to choose from.

Now, it’s important to re-emphasis something you’ve heard me say a hundred times.

When I say that you should put forward fewer ideas or ways that a sponsor can be involved in your sponsorship, I DO NOT mean going out and creating ‘Gold, Silver, Bronze’ sponsorship levels.

I mean you should create three core concepts on exactly how a sponsor can use the sponsorship.

Here’s a brief example.

Core Concept 1 – Here’s how you can improve staff engagement and retention. Then list how they can use the sponsorship to achieve this.?

Core Concept 2 – Here’s how you can generate more leads. Then list how they can use the sponsorship to achieve this.

Core Concept 3 – Here’s how you can gain a competitive advantage over your competitors. Then list how they can use the sponsorship to achieve this.

Three core concepts or ideas to choose from, not a Gold, Silver, Bronze sponsorship package filled with generic benefits.

This makes it really simple and easy for potential sponsors to see the value, make a decision and get excited about the sponsorship.

It ensures your sponsors aren’t overwhelmed, or like me, overeating with too many choices and feeling regretful and bloated.

If you want access to this exact process, which is the same process we teach our clients, that results in getting more sponsorship, then you can find it in our digital guide on our website called KICK *SS.

It comes with video training and templates you can use to help ensure you're not overwhelming your potential sponsors.

Go check it out, and if you've got any questions then feel free to hit me up.

Enjoy the rest of your week!

Mike Wootton.

CEO/Founder - Sponsorship Professional Of The Year Winner

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